Swiss Marketplace Group H1 2026 Performance and Outlook
Swiss Marketplace Group reported first‑half 2026 results that marginally beat consensus expectations. Revenue was 0.8% above the company‑compiled consensus figure, while adjusted EBITDA exceeded consensus by 0.9%. Adjusted EBITDA margin improved to 56.5%, a rise of 2.2 percentage points year‑over‑year from 54.3% in fiscal 2025.
Revenue growth for the group slowed to 11.3% in H1 2026, down from 13.9% in the second half of 2025 and 14.4% in the first half of 2025. Segment‑level growth showed the Automotive business expanding 12.2%, Real Estate revenues increasing 11.5%, and General Marketplaces growing 13%.
Guidance Update
The company narrowed its full‑year 2026 revenue growth guidance to the upper half of its prior 10‑12% range, now projecting 11‑12% growth. This represents a 0.4‑percentage‑point uplift versus consensus expectations of 11% growth. Adjusted EBITDA margin guidance remains unchanged at 56‑58% for the full year.
Capital expenditure expectations were revised downward to 7.5‑8.5% of revenue, compared with the earlier 8‑9% range. Management indicated that higher marketing and consultancy costs anticipated in the second half of the year will offset some benefits from the stronger full‑year growth trajectory.
Leadership Transition
Swiss Marketplace announced a CEO succession plan effective 1 January 2027. Christoph Tonini, who has served as CEO for four years and oversaw the completion of the IPO, will assume the role of Chairperson. Alberto Sanz de Lama, currently General Manager of the Autos business, will be appointed CEO. The transition is described as a continuation of the existing strategy and execution framework.